GMAC Exercises Option To Purchase Capital Auto Receivables Asset Trust 1999-2

DETROIT - General Motors Acceptance Corporation (GMAC) announced today that it would exercise its option to purchase the remainder of the Capital Auto Receivables Asset Trust 1999-2 on April 15, 2003. This will result in a termination of all of the outstanding Capital Auto Receivables Asset Trust 1999-2 Class B 6.700% Asset Backed Certificates.

The Certificates will be purchased at $73.6787673 per $1,000 face amount, plus 30 days accrued interest. A total of $63,113,000.00 of Capital Auto Receivables Asset Trust 1999-2 Class B 6.700% Asset Backed Certificates were sold to the public in September 1999.

The Certificates may be presented and surrendered for payment to Deutsche Bank, DB Services Tennessee, Inc., Corporate Trust & Agency Services, Securities Payment Unit, 648 Grassmere Park Road, Nashville, TN, 37211. Interest on the Certificates will cease to accrue on and after April 15, 2003.

GMAC, a wholly-owned subsidiary of General Motors Corporation since 1919, operates in 41 countries. Earnings in 2002 were nearly $1.9 billion.